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Shares of Cumulus Media gained 9.7% this week, the leading stock in the Billboard Global Music Index and one of only four stocks in the 21-company index to end in positive territory Friday (June 23).
Overall, the Billboard Global Music Index declined 3.5% to 1,287.41 — more than double the 1.4% declines of the S&P 500 and Nasdaq. Music stocks were more in line with the Nasdaq when the overpowering effects of a small number of tech companies are removed, however. That’s because a few powerhouses — such as Microsoft, Apple, Alphabet and Amazon — often account for a large fraction of the Nasdaq’s gains. To that point, QQQE, an exchange-traded fund that gives equal weight to 100 Nasdaq stocks, declined 2.9% this week.
In the United Kingdom, the FTSE 100 declined 2.4%. South Korea’s KOSPI index fell 2.1%. Central banks in England, Turkey and Norway raised interest rates this week. Investors can reasonably expect more rates hikes in the United States, too. Federal Reserve chairman Jerome Powell said on Wednesday the central bank may continue to raise rates — there have been 10 since March 2022 — but “to do so at a more moderate pace.” When central banks raise interest rates, stocks tend to fall because businesses and consumers are expected to cut back on spending and higher rates make bonds relatively more attractive to stock returns.
Cumulus Media improved to $3.40 a week and a half after the company announced it will sell about 1.75 million Class A common shares — nearly 10% of outstanding shares — at $3.25 per share in a modified Dutch auction that closed on June 9. While the sale will gross about $5.7 million, not including fees and expenses, the final result was well below the company’s goal to sell up to $10 million of shares as part of a previously announced $50 million share repurchase plan.
Shares of French music streaming company Deezer gained 3.6% to 2.32 euros ($2.54), bringing the stock’s year-to-date loss to 20.5%. U.S. streaming company LiveOne gained 3.3% to $1.58. Year-to-date, LiveOne has gained 145.3%. The only other company with a week-over-week improvement was South Korea’s HYBE, which improved 1.2% to 301,000 KRW ($236.91).
The other three Korean music companies declined this week: SM Entertainment and YG Entertainment each fell 5.6% and JYP Entertainment dropped 3.5%. Still, K-pop has been a resounding success for investors in 2023. Led by JYP Entertainment’s 93.7% year-to-date gain, the four Korean companies’ stocks have risen an average of TK% in 2023.
One company, Anghami, was unchanged and the index’s other 16 stocks were in negative territory this week. MSG Entertainment had the Billboard Global Music Index’s largest decline after dropping 17.1%. Sphere Entertainment Co., which spun off MSG Entertainment in April, intends to sell part of its 33% stake in MSG Entertainment. The news dropped the live entertainment company’s share price 12.1% on Wednesday. At Friday’s closing price, Sphere Entertainment’s sale of 5.25 million shares would gross about $170 million that could help fund the state-of-the-art Sphere at The Venetian Resort in Las Vegas that’s set to open in September.
It’s a big day for Big Freedia, she she has released her highly anticipated second studio album, Central City, on Friday (June 23). Billboard News‘ Tetris Kelly caught up with the bounce icon ahead of the release to discuss the LP, as well dream collaborations and other projects she has in the works.
“It’s been nine years since i put out an album, so to represent to New Orleans and for Central City where I grew up at, it feels great bringing it back to the roots,” Freedia said, explaining what the release of the album means to her.
She reminisced, “On Josephine Street in Central City. It’s from Big Freddy to Big Freedia, and so it’s all of that. A little bit old style bringing it back to the new and improved bounce where I’m taking it, calling it bigger bounce.”
The record hosts a series of features, including guest spots from Kelly Price, Faith Evans, Ciara, Lil Wayne and more. Of working with Tunechi of track “El Niño,” Freedia said, “I’ve been wanting to work with him [Wayne] for a long time and to finally work with another legend from New Orleans, it’s amazing.” As for who else she wants to work with? Patti Labelle, Toni Braxton, Eve and Lil Kim are all people on the LGBTQ+ icon’s list.
Up next for Big Freedia is more episodes of Big Freedia Means Business. According to the star, the show — which is returning to Fuse for its fourth episode on July 5 — is about “representing for people out there who want to start a business or are enquiring to start a business. It is about my life and all the things i’m putting out there, my makeup line, my cannabis line, the hotel, the record label, the eyewear line — I’m doing it all.”
Wath Big Freedia’s interview with Billboard in the video above.
Big Freedia talks to Billboard about her new album Central City, her new Fuse reality show Big Freedia Means Business, working with legends such as Lil Wayne and Beyoncé, and more!
Big Freedia:
They were trying to stop me from gyrating and called all these police.
Tetris Kelly:
They called the police?
Big Freedia:
Yeah, and I was like, ‘I’m the queen of bounce, honey. You’re all gonna get ready to take me to jail.”
Tetris Kelly:
Twerk all the way to the jail, how about that?
Big Freedia:
Hey, this is Big Freedia, the queen diva, and this is Billboard News — girl down!
Tetris Kelly:
It’s Tetris of Billboard News hanging out with Big Freedia. You looking good! Happy Pride!
Big Freedia:
Thank you, happy Pride to you as well.
Tetris Kelly:
I have been loving the energy. Have you been celebrating Pride?
Big Freedia:
I’ve just been performing everywhere, bringing good energy, you know, going out living in my true being loud and proud.
Tetris Kelly:
And I feel like the energy is different this year because of course, we always celebrate Pride. But then there’s so many social issues happening right now. So have you noticed, like, a difference in Pride this year when we’re under attack for so many reasons?
Big Freedia:
Yeah, I definitely think that we are being fearfulness. And we are going out there and just showing our true colors, and letting them know that all of these laws that they’re trying to put in place, it’s not really stopping anything. We are going to still stand strong, and we’re gonna come together as a community and keep on fighting for our rights.
Watch Big Freedia’s full interview with Billboard News above!
This was supposed to happen three years ago. To celebrate the 20th anniversary of her 2000 seminal debut album — Who Is Jill Scott? Words and Sounds Vol. 1 — the singer-songwriter announced she would tour and perform the entire Hidden Beach Recordings project in 2020. Then, along came the pandemic.
But the wait was worth it for the 17,500 screaming fans who greeted the three-time Grammy winner at the Los Angeles stopover on her relaunched anniversary tour. Strolling onto the stage at the sold-out Hollywood Bowl, garbed in a sparkly pantsuit accented by a colorful kimono, a smiling Scott said to resounding applause, “Hello everybody. Welcome to the 23rd anniversary of Who Is Jill Scott? Words and Sounds Vol. 1. It’s a great pleasure to present this to you.”
And from there, Scott took fans all the way back to day one, beginning with the double-platinum album’s opening tracks “Jilltro,” “Do You Remember” and “Exclusively.” Then, the first of several massive sing-alongs erupted as she segued into her first-charting single, “Gettin’ in the Way,” followed by her second single and first top 10 hit on Hot R&B/Hip-Hop Songs, “A Long Walk.” As Scott glided into the latter track’s fitting first verse (“You’re here / I’m pleased”), one fan shouted, “She’s not playing tonight!”
That jubilant fervor continued throughout the rest of the night as Scott lovingly wound her way through more standouts from her first album. These included “He Loves Me (Lyzel in E Flat),” which has become a Scott concert staple, “The Way,” “Honey Molasses,” “Love Rain,” “The Roots (Interlude),” “Slowly Surely” and “Watching Me.”
Watching and hearing Scott perform her breakthrough album, several realizations came to mind. First, her vocals are just as stunning as they were 23 years ago. The way she flexes those muscles on songs like “He Loves Me,” hitting operatic-type notes, still brings fans to their feet. Second, her insightful lyrics about life, love, relationships and self-empowerment are just as on-point as they were 23 years ago. She also possesses the innate ability to connect one-on-one with fans even while performing in front of thousands of them. Plus, she’s still having fun, as evidenced by the way she interacts with her backing band and three background singers, letting them do their thing as she does hers.
At one point during the show, as the conga player and the drummer laid down percolating solos, Scott exclaimed, “This is live music, MFs! There’s nothing MP3, ABC … none of that s—, about it.”
Warming up the crowd for Scott during an unseasonably chilly night were DJ Diamond Kuts and the Adam Blackstone Band. The latter brought out two special guests as well. Roc Nation artist Dixson performed covers of Bill Withers’ “Just the Two of Us” and D’Angelo’s “Untitled (How Does It Feel”), while Jon B delivered two of his hits, “Someone to Love” and “They Don’t Know.”
The next stop on the Who Is Jill Scott? Words and Sounds Vol. 1 anniversary tour is in Concord, Calif. on June 24.
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“Culture’s biggest night” will be a celebration of hip-hop. The 2023 BET Awards return to Los Angeles on Sunday (June 25) at 8 p.m. ET/PT.
The show, held at the Microsoft Theater, will feature a star-studded performance lineup honoring hip-hop’s 50th anniversary.
“We have an incredible lineup of performers who will take us on a musical journey, covering Hip Hop spanning every decade, style, and region. From music to dance and fashion, we are digging through every crate as we celebrate 50 years of Hip Hop and its diversity, evolution, and global impact,” said Connie Orlando, BET EVP, specials, music programming & music strategy. “This wall-to-wall party will reverberate with the amazing energy and passion these artists bring to the stage and the culture. Prepare for an unforgettable night of reunions and surprises as we celebrate hip-hop’s rich history, enduring legacy, and promising future.”
Drake leads this year’s nominees list with seven nominations. Following closely behind the Toronto rapper, GloRilla earned six nominations, while 21 Savage and Lizzo each snagged five nominations.
Beyoncé, Burna Boy, Chris Brown, Ice Spice and SZA are tied at four nods each. Cardi B, Coco Jones, FLO, Future, Jack Harlow, Kendrick Lamar, Tems, Maverick City Music & Kirk Franklin landed three nominations a piece.
See below for ways to watch and stream the 2023 BET Awards online, and other details about the ceremony.
How to Watch the 2023 BET Awards on TV
The BET Awards air on Sunday (June 25) at 8 p.m. ET/8 p.m. PT on BET and will simulcast on BET Her, Logo, MTV, MTV2, TV Land and VH1.
How to Watch the 2023 BET Awards Online for Free
While there isn’t a direct way to watch the BET Awards for free online, if you don’t have cable, your best bet would be to sign up for a streaming service that offers live TV such as DirectTV Stream, Philo, fuboTV or Sling TV. Hulu + Live TV offers live television as well but no free trial.
What are the best streaming deals? Right now, Sling TV starts at just $15 (regular $40) for the first month. Philo costs $25/month to access 70+ cable channels, and you’ll get a after a free trial for the first week, which means you can stream the BET Awards for free.
Philo
DirectTV Stream and Fubo offer up to 200+ cable and local channels for an affordable price. Monthly plans for both streamers start at $75/month. And if you’re streaming internationally, ExpressVPN gives you access to BET and several streaming platforms.
Who is Performing at the 2023 BET Awards?
The BET Awards will feature a star-studded performance lineup celebrating hip-hop from coast to coast. Performers include Big Daddy Kane, Eric Sermon, Chief Keef, 69 Boyz, DJ Unk, E-40, Fast Life Yungstaz & Easton (F.L.Y.), Fat Joe, Ja Rule, Kid ‘N Play, MC Lyte, Percy “Master P” Miller, Remy Ma, Soulja Boy, Redman, Jeezy, The Sugarhill Gang, Trick Daddy, Trina, Tyga, Uncle Luke, Warren G, Ying Yang Twins, Yo-Yo and more.
Ice Spice, Latto, Lil Uzi Vert, Coco Jones, GloRilla and Doechii are also scheduled to perform.
Who will be honored at the 2023 BET Awards?
Busta Rhymes will be honored with the Lifetime Achievement Award, which is presented to industry pioneers who have “shifted the culture.” Bia, Coi Leray, Cutty Ranks, Dexta Daps, M.O.P., Rah Digga, ScarLip, Spice, Supercat, Swizz Beatz and other surprise guests are slated to hit the stage to celebrate the Brooklyn native’s more than 30-year career.
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